Explorer

Mukesh Ambani's Reliance Industries Buys Dubai's Costliest Home Ever For $80 Million: Report

The property on Palm Jumeirah, which has 10 bedrooms, a private spa, and indoor and outdoor pools, was bought earlier this year for Ambani’s youngest son, Anant

Mukesh Ambani’s Reliance Industries Ltd. (RIL) is the mystery buyer of an $80 million beach-side villa in Dubai, the city’s biggest ever residential property deal, quoting two sources privy to the deal, Bloomberg said on Monday.

According to the report, the property on Palm Jumeirah was bought earlier this year for Ambani’s youngest son, Anant, one of the sources told the news agency.

The beach-side mansion sits in the northern part of the palm-shaped artificial archipelago and has 10 bedrooms, a private spa, and indoor and outdoor pools, local media reported without saying who the buyer is.

Dubai is emerging as a favourite market for the ultra-rich, whom the government has actively courted by offering long-term 'golden visas' and relaxing curbs on home ownership for foreigners. British footballer David Beckham with his wife Victoria and Bollywood mega star Shahrukh Khan will be some of Ambani’s new neighbours.

Anant is one of three heirs to Ambani’s $93.3 billion fortune, according to the Bloomberg Billionaires Index. The world’s 11th richest person, now 65-years-old, is slowly handing the reins to his children after a diversification push that expanded his empire into green energy, tech, and e-commerce.

The Ambani family has been increasing its real estate footprint overseas, with all three siblings looking Westward for second homes, a sources said.

Last year, RIL spent $79 million to buy Stoke Park Ltd. in the UK, which houses a Georgian-era mansion said to be for older son Akash, who was recently named chairman of telecom operator Reliance Jio Infocomm Ltd. His twin sister, Isha, is scouting for a home in New York, the person added.

Meanwhile, RIL will hold its 45th Annual General Meeting (AGM) on Monday at 2 pm on a virtual reality platform and across five social media platforms, taking another leap in a bid to digitally connect people for its annual shareholder meeting. RIL Chairman and Managing Director Mukesh Ambani will virtually address the meeting in the immersive and interactive 3D world of metaverse.

Following the government’s announcement of roll-out of 5G services in India, the companies timeline for the same is being looked forward to in this AGM and with it the launch of the JioPhone 5G.

Succession of the company, future roadmap on green fuel, retail and telecom is also being expected in this year’s edition of the AGM.

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

President Appoints Governors In 5 States, Ajay Bhalla Named Manipur Guv, Arif Mohammed Khan Shifted To Bihar
President Appoints Governors In 5 States, Ajay Bhalla Named Manipur Guv, Arif Shifted To Bihar
Delhi: Congress Releases Second List Of 26 Candidates, Names Ex-AAP MLAs Asim Khan, Devinder Sehrawat
Delhi Elections: Congress Releases Second List Of 26 Candidates, Fields 2 AAP Turncoats
5 Jawans Killed After Army Vehicle Falls Into Gorge In J&K's Poonch, Several Others Injured
5 Jawans Killed After Army Vehicle Falls Into Gorge In J&K's Poonch, Several Others Injured
Goa Braces For Beef Shortage Amid Festive Season As Traders Begin Strike Over ‘Harassment’ By Cow Vigilantes
Goa Braces For Beef Shortage Amid Festive Season As Traders Begin Strike Against Cow Vigilantes
Advertisement
ABP Premium

Videos

Manu Bhaker expresses disappointment after not being included in Khel Ratna Award listKumar Vishwas targets Shatrughan Sinha family, sparks controversy with remarks on RamayanaDelhi Govt. issues guidelines regarding illegal Bangladeshi student admissions in schoolsSambhal News: Shahi Jama Masjid survey report won't be presented today, technical revisions ongoing

Photo Gallery

Embed widget